President: Lithuania will adopt the euro when both the country and the eurozone itself are ready

As the eurozone is facing increasingly greater problems, Lithuanian President Dalia Grybauskaite once again reiterated that Lithuania will adopt the euro when both the country and the eurozone itself are ready.

"Lithuania will adopt the
single currency when it is ready and when the eurozone is also prepared to
accept new members," she said yesterday to Lithuanian reporters in
Brussels, ahead of the European Council meeting, reports LETA/ELTA.

Grybauskaite said that if the
eurozone wants to prepare for new members joining it, it should first of all
handle the current situation.

Earlier, Lithuania's president had
said that the country will be ready to introduce the new currency in 2014 if
the European debt crisis does not hinder the development in the region.

To join the euro area, inflation
must be within 1.5 percentage points of the average in the three EU countries
with the lowest rates. Countries must also meet fiscal, debt, interest-rate and
exchange-rate targets.

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